AEMDX Acadian Emerging Markets Debt Fund Insti (MM)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06400

 

 

The Advisors’ Inner Circle Fund

(Exact name of registrant as specified in charter)

 

 

101 Federal Street

Boston, MA 02110

(Address of principal executive offices) (Zip code)

SEI Corporation

One Freedom Valley Drive

Oaks, PA 19456

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-877-446-3863

Date of fiscal year end: April 30, 2013

Date of reporting period: January 31, 2013

 

 

 

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Item 1.

Schedule of Investments

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR AGGRESSIVE VALUE FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS
COMMON STOCK — 84.6%
		Shares				Value
AEROSPACE/DEFENSE EQUIPMENT — 10.0%
AerCap Holdings*			450,000			$	6,574,500
Bombardier, Cl B*			1,900,000				7,437,553
							14,012,053
AGRICULTURE — 4.4%
Mosaic			100,000				6,125,000
AUDIO & VIDEO — 5.6%
Harman International Industries			175,000				7,836,500
AUTOMOTIVE — 5.0%
Daimler			120,000				6,983,847
CHEMICALS — 2.9%
Dow Chemical			125,000				4,025,000
COMPUTER SOFTWARE — 11.6%
Microsoft			225,000				6,180,750
Software			120,000				4,620,334
Symantec*			250,000				5,442,500
							16,243,584
CONSTRUCTION & ENGINEERING — 4.1%
KBR			185,000				5,775,700
ELECTRONICS MANUFACTURER — 5.3%
Flextronics International Ltd.*			1,200,000				7,452,000
ENERGY EQUIPMENT & SERVICES — 7.1%
Halliburton			100,000				4,068,000
Superior Energy Services*			235,000				5,867,950
							9,935,950
MEDICAL PRODUCTS & SERVICES — 3.4%
Aetna			100,000				4,823,000
OIL, GAS & CONSUMABLE FUELS — 11.3%
Devon Energy			75,000				4,289,250
Repsol			103,030				2,299,896
Royal Dutch Shell ADR, Cl A			25,000				1,763,000
Suncor Energy			225,000				7,654,500
							16,006,646
RETAIL — 4.3%
Target			100,000				6,041,000
SEMI-CONDUCTORS & INSTRUMENTS — 7.7%
Lattice Semiconductor*			650,000				2,892,500
ON Semiconductor*			1,000,000				7,850,000
							10,742,500

 

1

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THE ADVISORS’ INNER CIRCLE FUND				CAMBIAR AGGRESSIVE VALUE FUND
				JANUARY 31, 2013  (Unaudited)

 

 

 

COMMON STOCK — continued

 

		Shares/Contracts				Value
TELECOMMUNICATION SERVICES — 1.9%
Vodafone Group ADR			100,000			$	2,732,000
TOTAL COMMON STOCK (Cost $112,020,332)							118,734,780
PREFERRED STOCK — 4.7%
AUTOMOTIVE — 4.7%
Porsche Automobil Holding (Cost $3,870,775)			75,000				6,525,722
SHORT-TERM INVESTMENT (A) — 3.7%
SEI Daily Income Trust Government Fund, Cl A, 0.020% (Cost $5,251,875)			5,251,875				5,251,875
TOTAL INVESTMENTS — 93.0% (Cost $121,142,982)†						$	130,512,377
PURCHASED OPTIONS ††— 6.6%
AGRICULTURE — 1.5%
Mosaic Call, Expires 01/18/14
Strike Price: $40.00*			1,000				2,130,000
ENERGY EQUIPMENT & SERVICES — 2.3%
Halliburton Call, Expires 01/17/15
Strike Price: $20.00*			1,500				3,156,000
OIL, GAS & CONSUMABLE FUELS — 0.9%
Repsol European Call, Expires 06/20/14
Strike Price: $15.00*			4,000				1,319,777
RAILROADS — 1.9%
Norfolk Southern Call, Expires 01/18/14
Strike Price: $50.00*			1,400				2,688,000
TOTAL PURCHASED OPTIONS (Cost $9,518,518)							9,293,777

 

††

For period ended January 31, 2013, the total amount of all open purchased options, as presented in the Schedule of Investments, is representative of the volume of activity for this derivative type during the period.

Percentages are based on Net Assets of $140,282,933.

*  Non-income producing security.

(A)  The rate reported is the 7-day effective yield as of January 31, 2013.

ADR — American Depositary Receipt

Cl — Class

Ltd. — Limited

As of January 31, 2013, all of the Fund’s investments are Level 1 in accordance with ASC 820.

 

2

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR AGGRESSIVE VALUE FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

Equity swaps held by the Fund at January 31, 2013, were as follows:

 

Reference Company		Counterparty		Number of Contracts Long (Short)				Notional Amount				Unrealized Appreciation (Depreciation)
Devon Energy		Goldman Sachs			100,000				5,565,805			$	153,195
Dow Chemical		Goldman Sachs			100,000				2,987,300				232,700
Microsoft		Goldman Sachs			200,000				5,433,000				61,000
Porsche Automobil Holdings Preferred		Goldman Sachs			75,000				6,433,270				92,453
ProShares Ultra S&P 500 ETF		Goldman Sachs			(150,000	)			(9,423,285	)			(544,215	)
ProShares Ultra DJ-UBS Crude Oil ETF		Goldman Sachs			(150,000	)			(4,648,745	)			(257,755	)
Royal Dutch Shell, Cl B ADR		Goldman Sachs			50,000				3,472,896				163,104
SPDR S&P Retail ETF		Goldman Sachs			(100,000	)			(6,355,440	)			(352,560	)
Suncor Energy		J.P. Morgan			125,000				4,285,000				(32,500	)
Symantec		Goldman Sachs			150,000				2,689,185				576,315
Target		Goldman Sachs			100,000				6,072,923				(31,923	)
Under Armour, Cl A		Goldman Sachs			(75,000	)			(3,486,080	)			(329,170	)
Verizon		Goldman Sachs			(125,000	)			(5,568,873	)			117,623
Vodafone ADR		J.P. Morgan			375,000				9,720,000				525,000
Volkswagen Preferred		Goldman Sachs			(20,000	)			(4,716,865	)			(228,160	)
												$	145,107

ETF — Exchange Traded Fund

SPDR — Standard & Poor’s Depositary Receipt

The following is a summary of the inputs used as of January 31, 2013 in valuing the Fund’s investments carried at value:

 

Investments in Securities		Level 1				Level 2				Level 3				Total
Common Stock		$	118,734,780			$	—			$	—			$	118,734,780
Preferred Stock			6,525,722				—				—				6,525,722
Short-Term Investment			5,251,875				—				—				5,251,875
Total Investments in Securities		$	130,512,377			$	—			$	—			$	130,512,377
Other Financial Instruments*		Level 1				Level 2				Level 3				Total
Equity Swaps — Assets		$	—			$	1,921,390			$	—			$	1,921,390
Purchased Options			9,293,777				—				—				9,293,777
Equity Swaps — Liabilities			—				(1,776,283	)			—				(1,776,283	)
		$	9,293,777			$	145,107			$	—			$	9,438,884

 

*

Equity swaps are valued at the unrealized appreciation (depreciation) on the instruments.

For the period ended January 31, 2013, there were no transfers between Level 1 and Level 2 assets and liabilities. For the period ended January 31, 2013, there were no Level 3 securities.

 

†

At January 31, 2013, the tax basis cost of the Fund’s investments was $121,142,982, and the unrealized appreciation and depreciation were $11,832,257 and $(2,462,862), respectively.

For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.

CMB-QH-010-1100

 

3

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR GLOBAL SELECT FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS
COMMON STOCK — 96.3%
		Shares				Value
AEROSPACE/DEFENSE EQUIPMENT — 5.8%
Bombardier, Cl B			5,910			$	23,351
European Aeronautic Defence and Space ADR			599				28,171
Honeywell International			379				25,863
							77,385
AGRICULTURE — 1.7%
Mosaic			365				22,356
AUTOMOBILE MANUFACTURERS — 2.0%
Porsche Automobil Holding ADR			3,088				27,452
AUTOMOTIVE — 2.0%
Daimler			460				26,662
BANKING — 1.9%
Itau Unibanco Holding ADR			1,460				25,156
BANKS — 2.1%
Regions Financial			3,570				27,775
BROADCASTING, NEWSPAPERS & ADVERTISING — 2.0%
WPP ADR			340				26,666
BUSINESS SERVICES — 2.1%
Mitsubishi Estate ADR			1,200				28,944
CHEMICALS — 7.7%
Asahi Kasei ADR			2,165				25,287
Celanese, Cl A			575				26,956
Dow Chemical			780				25,116
Koninklijke ADR			1,710				26,180
							103,539
COMPUTER SOFTWARE — 5.6%
Microsoft			940				25,822
Software ADR			2,340				22,792
Symantec*			1,215				26,450
							75,064
CONSTRUCTION & ENGINEERING — 4.0%
KBR			775				24,196
Komatsu Ltd. ADR			1,085				29,007
							53,203
CONSUMER STAPLES — 1.9%
Procter & Gamble			345				25,930
DIVERSIFIED FINANCIAL SERVICES — 5.7%
DBS Group Holdings ADR			520				25,132
Julius Baer Group Ltd. ADR			3,498				28,264
Sony Financial Holdings ADR			1,412				23,792
							77,188

 

4

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR GLOBAL SELECT FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

COMMON STOCK — continued

 

		Shares				Value
ENERGY EQUIPMENT & SERVICES — 3.7%
Halliburton			665			$	27,052
Technip ADR			821				22,249
							49,301
FOOD, BEVERAGE & TOBACCO — 2.0%
Imperial Tobacco Group ADR*			355				26,554
HEATING & REFRIGERATION EQUIPMENT — 2.0%
TOTO ADR			1,635				26,896
HOTELS RESTAURANTS & LEISURE — 1.8%
Carnival, Cl A			610				23,619
INDUSTRIAL/MACHINERY — 3.8%
Eaton			451				25,684
GEA Group ADR			710				25,858
							51,542
INSURANCE — 8.0%
AXA ADR			1,455				26,845
MetLife			734				27,408
Reinsurance Group of America, Cl A			450				25,825
Willis Group Holdings			760				27,140
							107,218
INTERNET RETAIL — 1.9%
Google, Cl A*			34				25,693
MEDICAL PRODUCTS & SERVICES — 5.6%
Aetna			525				25,321
Baxter International			355				24,083
CareFusion*			834				25,887
							75,291
OIL, GAS & CONSUMABLE FUELS — 6.5%
Devon Energy			485				27,737
Royal Dutch Shell ADR, Cl B			362				26,325
Valero Energy			765				33,454
							87,516
PHARMACEUTICALS — 2.1%
Roche Holding ADR			516				28,627
RAILROADS — 2.0%
Norfolk Southern			390				26,859

 

5

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR GLOBAL SELECT FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

COMMON STOCK — continued

 

		Shares				Value
RESTAURANTS — 0.8%
Darden Restaurants			235			$	10,928
RETAIL — 3.9%
Adidas ADR			563				26,219
TESCO ADR			1,495				25,430
							51,649
SECURITY SERVICES — 1.7%
Secom ADR			1,865				23,297
SEMI-CONDUCTORS & INSTRUMENTS — 4.0%
ON Semiconductor*			3,616				28,386
Siliconware Precision Industries ADR			5,100				26,163
							54,549
TELECOMMUNICATION SERVICES — 2.0%
Vodafone Group ADR			976				26,664
TOTAL COMMON STOCK (Cost $1,136,522)							1,293,523
SHORT-TERM INVESTMENT (A) — 6.5%
SEI Daily Income Trust Government Fund, Cl A, 0.020% (Cost $86,822)			86,822				86,822
TOTAL INVESTMENTS — 102.8% (Cost $1,223,344) †						$	1,380,345

Percentages are based on Net Assets of $1,343,107.

*  Non-income producing security.

(A)  The rate reported is the 7-day effective yield as of January 31, 2013.

ADR — American Depositary Receipt

Cl — Class

Ltd. — Limited

As of January 31, 2013, all of the Fund’s investments are Level 1in accordance with ASC 820.

For the period ended January 31, 2013, there were no transfers between Level 1 and Level 2 assets and liabilities. For the period ended January 31, 2013, there were no Level 3 securities.

 

†

At January 31, 2013, the tax basis cost of the Fund’s investments was $1,223,344, and the unrealized appreciation and depreciation were $166,841 and $(9,840), respectively.

For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.

CMB-QH-012-0300

 

6

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR INTERNATIONAL EQUITY FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS
COMMON STOCK — 90.9%
		Shares				Value
BRAZIL — 1.9%
Itau Unibanco Holding ADR			40,000			$	689,200
CANADA — 3.9%
Bombardier*			175,300				686,212
Suncor Energy			20,347				692,205
							1,378,417
FRANCE — 8.3%
Alstom			16,900				749,913
AXA			41,100				760,966
Capital Gemini			15,900				766,295
Technip			6,400				693,775
							2,970,949
GERMANY — 14.8%
Adidas			7,600				706,149
Daimler			12,400				721,664
Deutsche Boerse			11,500				756,390
GEA Group			23,000				833,582
Infineon Technologies			96,245				868,126
SAP ADR			9,100				746,382
Software			16,200				623,745
							5,256,038
ITALY — 2.1%
Atlantia			40,600				751,158
JAPAN — 13.5%
Asahi Kasei			116,900				676,345
Kao ADR			23,600				678,028
Komatsu			27,000				720,414
Mitsubishi Estate			29,000				703,550
Secom			13,200				659,566
Sony Financial Holdings			36,100				610,765
TOTO			95,300				756,051
							4,804,719
NETHERLANDS — 8.9%
European Aeronautic Defence and Space			15,600				732,779
Heineken			10,600				745,180
Koninklijke			12,500				766,170
Royal Dutch Shell ADR, Cl B			12,500				909,000
							3,153,129
SINGAPORE — 3.5%
DBS Group Holdings Ltd.			52,000				628,470
Singapore Telecommunications ADR			22,100				627,640
							1,256,110
SPAIN — 2.0%
Repsol ADR			32,500				725,400

 

7

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR INTERNATIONAL EQUITY FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

COMMON STOCK — continued

 

		Shares				Value
SWITZERLAND — 13.7%
Adecco*			13,300			$	763,965
Julius Baer Group			20,965				857,711
Novartis ADR			16,200				1,098,684
Roche Holding			3,200				707,831
Swiss Re			9,500				706,892
Syngenta			1,730				746,531
							4,881,614
TAIWAN — 1.6%
Siliconware Precision Industries ADR			107,800				553,014
UNITED KINGDOM — 12.9%
ICAP			133,000				687,836
Imperial Tobacco Group			18,685				694,681
Marks & Spencer Group			105,700				636,305
TESCO			126,545				714,843
Vodafone Group ADR			39,900				1,090,068
WPP			49,500				778,122
							4,601,855
UNITED STATES — 3.8%
Coca-Cola Enterprises			20,300				707,861
Schlumberger Ltd.			8,300				647,815
							1,355,676
TOTAL COMMON STOCK (Cost $26,508,296)							32,377,279
PREFERRED STOCK — 2.0%
GERMANY — 2.0%
Porsche Automobil Holding (Cost $491,714)			8,100				704,778
SHORT-TERM INVESTMENT (A) — 5.1%
SEI Daily Income Trust Government Fund, Cl A 0.020% (Cost $1,831,971)			1,831,971				1,831,971
TOTAL INVESTMENTS — 98.0% (Cost $28,831,981) †						$	34,914,028

 

8

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR INTERNATIONAL EQUITY FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

Percentages are based on Net Assets of $35,636,078.

*  Non-income producing security.

(A)  The rate reported is the 7-day effective yield as of January 31, 2013.

ADR — American Depositary Receipt

Cl — Class

Ltd. — Limited

As of January 31, 2013, all of the Fund’s investments were level 1 in accordance with ASC 820.

For the period ended January 31, 2013, there were no transfers between level 1 and Level 2 assets and liabilities. For the period ended January 31, 2013, there were no transfers between Level 2 and Level 3 assets and liabilities.

 

†

At January 31, 2013, the tax basis cost of the Fund’s investments was $28,831,981, and the unrealized appreciation and depreciation were $6,264,341 and $(182,294), respectively.

For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.

CMB-QH-008-1100

 

9

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR OPPORTUNITY FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS
COMMON STOCK — 93.3%
		Shares				Value
AEROSPACE/DEFENSE EQUIPMENT — 2.4%
Honeywell International			295,000			$	20,130,800
AGRICULTURE — 2.9%
Mosaic			400,000				24,500,000
AUTOMOTIVE — 2.2%
Ford Motor			1,400,000				18,130,000
BANKS — 2.2%
Regions Financial			2,400,000				18,672,000
BATTERY TECHNOLOGY — 2.1%
Rockwell Automation			200,000				17,838,000
CHEMICALS — 3.2%
Dow Chemical			825,000				26,565,000
COMPUTER SOFTWARE — 6.7%
Microsoft			1,050,000				28,843,500
Symantec*			1,250,000				27,212,500
							56,056,000
CONSTRUCTION & ENGINEERING — 2.4%
KBR			640,000				19,980,800
CONSUMER STAPLES — 4.4%
CVS Caremark			325,000				16,640,000
Procter & Gamble			270,000				20,293,200
							36,933,200
ELECTRONICS MANUFACTURER — 2.8%
Flextronics International Ltd.*			3,775,000				23,442,750
ENERGY EQUIPMENT & SERVICES — 5.4%
Halliburton			700,000				28,476,000
Superior Energy Services*			670,000				16,729,900
							45,205,900
HOTELS RESTAURANTS & LEISURE — 1.8%
Carnival, Cl A			400,000				15,488,000
INDUSTRIAL/MACHINERY — 5.3%
Eaton			425,000				24,203,750
Stanley Black & Decker			260,000				19,975,800
							44,179,550
INSURANCE — 11.2%
ACE Ltd.			190,000				16,212,700
MetLife			700,000				26,138,000
PartnerRe Ltd.			180,000				15,784,200
Prudential Financial			340,000				19,679,200
Willis Group Holdings			450,000				16,069,500
							93,883,600

 

10

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR OPPORTUNITY FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

COMMON STOCK — continued

 

		Shares				Value
INTERNET RETAIL — 2.9%
Google, Cl A*			32,500			$	24,559,925
MEDICAL PRODUCTS & SERVICES — 7.4%
Aetna			340,000				16,398,200
Baxter International			210,000				14,246,400
Hospira*			460,000				15,695,200
Life Technologies*			250,000				16,172,500
							62,512,300
OIL, GAS & CONSUMABLE FUELS — 10.7%
Devon Energy			415,000				23,733,850
Occidental Petroleum			265,000				23,391,550
Royal Dutch Shell ADR, Cl B			275,000				19,998,000
Valero Energy			525,000				22,958,250
							90,081,650
PERSONAL CREDIT INSTITUTIONS — 1.0%
Capital One Financial			156,100				8,791,552
PHARMACEUTICALS — 2.4%
Abbott Laboratories			600,000				20,328,000
RAILROADS — 4.9%
Norfolk Southern			365,000				25,137,550
Union Pacific			120,000				15,775,200
							40,912,750
RESTAURANTS — 1.1%
Darden Restaurants			199,870				9,293,955
RETAIL — 2.9%
Target			400,000				24,164,000
SEMI-CONDUCTORS & INSTRUMENTS — 2.1%
ON Semiconductor*			2,225,000				17,466,250
TELECOMMUNICATION SERVICES — 2.9%
Vodafone Group ADR			885,000				24,178,200
TOTAL COMMON STOCK (Cost $625,305,188)							783,294,182
SHORT-TERM INVESTMENT (A) — 3.5%
SEI Daily Income Trust Government Fund, Cl A, 0.020% (Cost $29,018,856)			29,018,856				29,018,856
TOTAL INVESTMENTS — 96.8% (Cost $654,324,044)†						$	812,313,038

 

11

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR OPPORTUNITY FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

Percentages are based on Net Assets of $839,076,120.

*  Non-income producing security.

(A)  The rate reported is the 7-day effective yield as of January 31, 2013.

ADR — American Depositary Receipt

Cl — Class

Ltd. — Limited

As of January 31, 2013, all of the Fund’s investments were Level 1 in accordance with ASC 820.

For the period ended January 31, 2013, there were no transfers between Level 1 and Level 2 assets and liabilities. For the period ended January 31, 2013, there were no transfers between Level 2 and Level 3 assets and liabilities.

 

†

At January 31, 2013, the tax basis cost of the Fund’s investments was $654,324,044, and the unrealized appreciation and depreciation were $166,246,512 and $(8,257,518), respectively.

For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.

CMB-QH-007-1100

 

12

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR SMALL CAP FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS
COMMON STOCK — 91.3%
		Shares				Value
AEROSPACE/DEFENSE EQUIPMENT — 3.9%
AerCap Holdings*			1,664,000			$	24,311,040
Exelis			1,986,000				21,826,140
							46,137,180
APPAREL/TEXTILES — 1.8%
Hanesbrands			568,000				21,288,640
AUDIO & VIDEO — 2.0%
Harman International Industries			540,000				24,181,200
BANKS — 5.9%
Cathay General Bancorp			1,210,500				23,495,805
TCF Financial			1,789,000				24,437,740
Umpqua Holdings			1,732,000				21,892,480
							69,826,025
BUSINESS SERVICES — 2.0%
DST Systems			347,000				23,228,180
CHEMICALS — 7.3%
Cabot			607,000				22,720,010
Chemtura*			841,725				19,965,717
Intrepid Potash*			931,000				21,692,300
Scotts Miracle-Gro, Cl A			488,000				21,335,360
							85,713,387
COMMUNICATIONS EQUIPMENT — 3.9%
Finisar*			1,524,000				23,622,000
JDS Uniphase*			1,550,000				22,490,500
							46,112,500
COMPUTER SOFTWARE — 1.9%
PTC*			984,000				22,809,120
ENERGY EQUIPMENT & SERVICES — 5.8%
Atwood Oceanics*			465,000				24,538,050
C&J Energy Services*			1,012,000				23,184,920
Lufkin Industries			368,000				21,310,880
							69,033,850
ENGINEERING/R AND D SERVICES — 2.1%
McDermott International*			2,012,000				24,486,040
FOOD, BEVERAGE & TOBACCO — 3.4%
Fresh Del Monte Produce			648,000				17,074,800
TreeHouse Foods			428,000				22,654,040
							39,728,840
HUMAN RESOURCE & EMPLOYMENT SERVICES — 1.5%
Korn/Ferry International*			1,033,000				17,746,940

 

13

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR SMALL CAP FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

COMMON STOCK — continued

 

		Shares				Value
INSURANCE — 5.3%
American Equity Investment Life Holding			1,292,000			$	17,416,160
Aspen Insurance Holdings Ltd.			637,000				21,728,070
Hanover Insurance Group			548,000				22,774,880
							61,919,110
MACHINERY — 4.0%
Crane			476,000				23,933,280
Harsco			892,000				22,737,080
							46,670,360
MEDICAL PRODUCTS & SERVICES — 13.1%
Bruker*			1,420,000				23,955,400
Health Net*			872,000				23,718,400
Integra LifeSciences Holdings*			413,000				17,407,950
LifePoint Hospitals			576,000				25,176,960
Magellan Health Services*			463,000				23,751,900
Quality Systems			890,000				16,233,600
WellCare Health Plans*			487,000				24,695,770
							154,939,980
OIL, GAS & CONSUMABLE FUELS — 1.8%
Stone Energy*			943,000				21,217,500
RESTAURANTS — 2.0%
Wendy’s			4,490,000				23,078,600
RETAIL — 3.5%
Aeropostale*			1,354,000				18,319,620
Saks*			2,150,000				23,241,500
							41,561,120
SECURITY SERVICES — 1.5%
Brink’s			577,000				17,206,140
SEMI-CONDUCTORS & INSTRUMENTS — 5.0%
Lattice Semiconductor*			3,730,000				16,598,500
Microsemi*			1,039,000				21,735,880
Teradyne*			1,287,000				20,797,920
							59,132,300
SHIPPING — 2.0%
Kirby*			333,000				23,526,450
SPECIALTY RETAIL — 4.1%
Rent-A-Center, Cl A			674,000				24,048,320
Sotheby’s			675,000				24,246,000
							48,294,320
TRANSPORTATION EQUIPMENT — 1.9%
GATX			487,000				23,059,450
TRANSPORTATION SERVICES — 2.1%
Air Lease, Cl A*			1,021,000				24,371,270

 

14

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR SMALL CAP FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

COMMON STOCK — continued

 

		Shares				Value
WASTE MANAGEMENT SERVICES — 3.5%
ABM Industries			820,000			$	17,974,400
Darling International*			1,376,000				23,213,120
							41,187,520
TOTAL COMMON STOCK (Cost $944,619,139)							1,076,456,022
SHORT-TERM INVESTMENT (A) — 6.4%
SEI Daily Income Trust Government Fund, Cl A, 0.020% (Cost $75,872,667)			75,872,667				75,872,667
TOTAL INVESTMENTS — 97.7% (Cost $1,020,491,806)†						$	1,152,328,689

Percentages are based on Net Assets of $1,179,595,898.

*  Non-income producing security.

(A)  The rate reported is the 7-day effective yield as of January 31, 2013.

Cl — Class

Ltd. — Limited

As of January 31, 2013, all of the Fund’s investments are Level 1 in accordance with ASC 820.

For the period ended January 31, 2013, there were no transfers between Level 1 and Level 2 assets and liabilities. For the period ended January 31, 2013, there were no Level 3 securities.

 

†

At January 31, 2013, the tax basis cost of the Fund’s investments was $1,020,491,806, and the unrealized appreciation and depreciation were $142,980,124 and $(11,143,241), respectively.

For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.

CMB-QH-009-1100

 

15

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR SMID FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS
COMMON STOCK — 95.4%
		Shares				Value
AEROSPACE/DEFENSE EQUIPMENT — 2.4%
AerCap Holdings*			2,850			$	41,639
AUDIO & VIDEO — 2.6%
Harman International Industries			1,005				45,004
AUTO & TRANSPORTATION — 2.6%
Expeditors International of Washington			1,040				44,616
BANKS — 7.6%
Regions Financial			5,700				44,346
Umpqua Holdings			3,300				41,712
Zions Bancorporation			1,950				45,474
							131,532
BATTERY TECHNOLOGY — 2.7%
Rockwell Automation			530				47,271
CHEMICALS — 7.0%
Celanese, Cl A			900				42,192
Huntsman			2,280				40,196
Scotts Miracle-Gro, Cl A			900				39,348
							121,736
CONSTRUCTION & ENGINEERING — 7.3%
Allegheny Technologies			1,350				42,728
KBR			1,265				39,493
URS			1,050				43,554
							125,775
CONTAINERS & PACKAGING — 2.4%
Greif, Cl A			890				41,812
DIVERSIFIED FINANCIAL SERVICES — 2.0%
Dun & Bradstreet			435				35,470
DRUGS — 2.5%
United Therapeutics*			795				42,843
ELECTRONICS MANUFACTURER — 4.7%
Flextronics International Ltd.*			6,600				40,986
Jabil Circuit			2,190				41,413
							82,399
ENERGY EQUIPMENT & SERVICES — 7.6%
Atwood Oceanics*			860				45,382
Oil States International*			580				44,997
Superior Energy Services*			1,660				41,450
							131,829

 

16

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR SMID FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

COMMON STOCK — continued

 

		Shares				Value
HUMAN RESOURCE & EMPLOYMENT SERVICES — 2.6%
Manpower			880			$	45,320
INDUSTRIAL/MACHINERY — 2.4%
Stanley Black & Decker			540				41,488
INSURANCE — 4.9%
Axis Capital Holdings			1,125				43,054
Reinsurance Group of America, Cl A			740				42,468
							85,522
IT SERVICES — 4.3%
Global Payments			820				40,393
SAIC			2,860				34,606
							74,999
MACHINERY — 5.1%
Crane			840				42,235
SPX			630				47,017
							89,252
MEDICAL PRODUCTS & SERVICES — 7.5%
CareFusion*			1,400				43,456
Hospira*			1,205				41,115
Universal Health Services, Cl B			810				45,878
							130,449
OIL, GAS & CONSUMABLE FUELS — 2.5%
Whiting Petroleum*			920				43,773
RESTAURANTS — 2.3%
Darden Restaurants			860				39,990
RETAIL — 2.4%
Abercrombie & Fitch, Cl A			830				41,500
ROAD & RAIL — 2.5%
Hertz Global Holdings*			2,350				42,958
SEMI-CONDUCTORS & INSTRUMENTS — 5.0%
LSI*			5,860				41,255
ON Semiconductor*			5,700				44,745
							86,000
SHIPPING — 2.5%
Kirby*			630				44,509
TOTAL COMMON STOCK (Cost $1,513,706)							1,657,686

 

17

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THE ADVISORS’ INNER CIRCLE FUND		CAMBIAR SMID FUND
		JANUARY 31, 2013  (Unaudited)

 

 

 

SHORT-TERM INVESTMENT (A) — 4.2%
		Shares				Value
SEI Daily Income Trust Government Fund, Cl A, 0.020% (Cost $73,074)			73,074			$	73,074
TOTAL INVESTMENTS — 99.6% (Cost $1,586,780)†						$	1,730,760

Percentages are based on Net Assets of $1,738,223.

*  Non-income producing security.

(A)  The rate reported is the 7-day effective yield as of January 31, 2013.

Cl — Class

Ltd. — Limited

As of January 31, 2013, all of the Fund’s investments are Level 1 in accordance with ASC 820.

For the period ended January 31, 2013 there were no transfers between Level 1 and Level 2 assets and liabilities. For the period ended January 31, 2013, there were no Level 3 securities.

 

†

At January 31, 2013, the tax basis cost of the Fund’s investments was $1,586,780, and the unrealized appreciation and depreciation were $185,492 and $(41,512), respectively.

For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.

CMB-QH-011-0400

 

18

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Item 2.

Controls and Procedures

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 as of a date within 90 days of the filing date of this report.

(b) There were no significant changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3.

Exhibits.

(a) A separate certification for the principal executive officer and the principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), are filed herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)						The Advisors’ Inner Circle Fund
By (Signature and Title)						/s/ Michael Beattie
						Michael Beattie
						President
Date: March 28, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)						/s/ Michael Beattie
						Michael Beattie
						President

Date: March 28, 2013

 

By (Signature and Title)						/s/ Michael Lawson
						Michael Lawson
						Treasurer, Controller & CFO

Date: March 28, 2013